Change order management: Best practices for construction businesses
As you know, change orders are an inherent part of the construction industry. Alterations to the original design, specifications, execution methods or scope of a job can impact the budget and timeline. And when not discussed and documented properly, they … Read more…
How construction company owners can build a succession plan framework
At some time or another, construction company owners must hang up their hard hats. But what will happen to your business when you retire or move on to the next professional opportunity? And what if you suddenly can’t work for … Read more…
6 ways construction companies can strengthen cybersecurity
Some contractors might assume hackers won’t bother with smaller construction businesses. Sadly, they’d be wrong. Construction companies tend to have high turnover rates, which means they store lots of personal data on past and present employees. And they usually have … Read more…
8 ways construction businesses can proactively manage their supply chains
Both global and national supply chains received much attention during the pandemic. Slowdowns and choke points have become relatively less common since, but that hasn’t stopped “supply chain issues” from being a commonly heard refrain in the construction industry. As … Read more…
Could your construction business qualify for an energy-efficient tax deduction?
Section 179D of the Internal Revenue Code allows a deduction for the cost of energy-efficient improvements to new or existing commercial buildings, as well as certain residential rental buildings. Originally a temporary incentive that was renewed several times, the tax … Read more…
An insurance policy glossary for construction business owners
Every type of business needs at least a few insurance policies. Construction companies, however, tend to need many of them. After all, there are so many risks to guard against. Precisely which types of coverage your company needs will depend … Read more…
Check your construction company’s vital signs with KPIs
When you go to the doctor, the first thing the medical staff likely does is check vital signs such as your temperature and blood pressure. They do so because, if any of these measurements are outside the norms, the doctor … Read more…
Use proactive measures to manage materials and labor costs
High inflation and rising interest rates are still affecting many businesses. For construction company owners, this means you’ll need to continue paying close attention to materials and labor costs. Keeping these dollar amounts in line calls for ongoing proactive measures. … Read more…
Your construction company may be able to claim the fuel tax credit
The federal fuel tax credit recently made the news when it was referenced on the IRS’s most recent “Dirty Dozen” list of tax scams. However, the false fuel-tax-credit scam involves dishonest third parties telling individuals that they may qualify for … Read more…
Beefing up benefits may save tax dollars for construction businesses
Construction companies continue to find themselves embroiled in a protracted battle for skilled labor. One fundamental way to recruit the best talent and retain valued employees is by offering competitive compensation and benefits. Let’s focus on the latter, which may … Read more…
